Delcath Stock Jumps 36% After Quarterly Revenue Growth and Raised 2026 Guidance

Delcath Systems (Nasdaq: DCTH) shares rose 35.8% on Monday, Nov. 9, 2026, closing at $20.27 from a previous close of $14.93, after the company reported third-quarter results and raised its 2026 revenue guidance. The S&P 500 ETF (SPY) gained 2.37% that session, and trading volume ran at 11.2 times its usual level.

The results were disclosed in an 8-K accepted at 8:02 a.m. Eastern, which furnished a press release as Exhibit 99.1. Total revenue for the quarter ended Sept. 30 was $35.1 million, up from $20.6 million a year earlier. HEPZATO KIT revenue was $32.7 million and CHEMOSAT revenue was $2.4 million. Net income was $7.0 million, compared with $0.8 million in the third quarter of 2025, and non-GAAP adjusted EBITDA was $11.5 million, against $5.3 million.

Guidance moves higher

The company now expects total HEPZATO KIT and CHEMOSAT revenue of $115 million to $117 million for 2026, reflecting HEPZATO KIT volume growth of at least 41% over 2025. It also expects full-year gross margins of 87% to 89% and positive adjusted EBITDA.

Volume and balance sheet

The company said HEPZATO volume grew about 72% in the third quarter from a year earlier, and that it has 33 active treatment centers. Gross margin was 89%, compared with 87% a year earlier. Cash and investments totaled $104.3 million as of Sept. 30, and the company reported no debt.

Clinical pipeline

In the same release, Delcath said the Phase 2 DELUMA trial of HEPZATO in liver-dominant metastatic breast cancer dosed its first patient on July 9, 2026. The company also said it plans to submit an IND for cholangiocarcinoma in early 2027.